Install an HDD, or disable HDD exception alarm in the web GUI, and see if the noise stops.
I'm wondering if it may be a (faulty) alarm sounder complaining about there being no HDD.
If there was a hard drive or fan somewhere that had already been excluded, my next guess would be that the power supply is "crowbarring" (clamping voltage output to limit current when its output is too high OR overloaded).
It would do this if something under the PC board is shorting a power rail to the case; could be a board standoff missing, a misplaced or a loose screw, nut, etc. slipped under the PC board and shorted metal case to a PC board power rail.
I've also heard a failing filter capacitor click on a switching-type power supply such as this; don't recall ever hearing any linear power supplies click.